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 Post subject: January 3rd Monday 2011 Emini ES ($ES_F) points +12.00
PostPosted: Mon Jan 03, 2011 7:09 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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click on the above image to view today's trading summary

Quote:
I had some data problems out of the gate but that's normal as the first trading day after a holiday involving my charting vendor. In addition, I switch back from trading Emini TF futures to trading Emini ES futures until I make a decision about ICE exchange new data fees involving the Emini TF futures. As for trading today, it was tough as expected due to the data problems but the last two trades of the day got me my profit goal for the day on increasing position size. In fact, due to the overall declining volatility in the market...my adapting for such will involve increasing my position size the first hour of trading and the last 30 mins of the regular trading session. In contrast, an trades occurring between 1030am - 3:30pm est will be via small position size only to help better manage my risk exposure in low volatility trading conditions.

Trade Performance for Today: +12.00 points or $600 dollars in the S&P 500 Emini ES ($ES_F) Futures.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.

In addition, today's #FuturesTrades trading chat room logs provides details about each trade from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=86&t=720. However, be advised that I'm frequently testing new trade signal methods or new trade management rules (e.g. stop/loss, trailing stops, profit targets, order types, time frames, workstation templates et cetera) after entry of existing profitable trade signal methods whenever market conditions change. Thus, adapting is a critical variable to my consistent profits along with preventing me from becoming complacent in my trading...this helps avoid trading account drawdowns.

Also, posted below are direct links to information about my trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis).

Image WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=5&t=180.

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=128&t=854

-----------------------------

Image Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED actions, global economics that had an impact on today's price action. Simply, I'm a strong believer that many variables causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis.

Image Bloomberg (Youtube) - U.S. Stocks Rise as S&P 500 Builds on December Rally



Image CNNMoney.com - Stocks Off To A Rockin' Start In 2011
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click on the above image to view today's price action of key markets

By Annalyn Censky, staff reporter
January 3, 2011: 4:46 PM ET

NEW YORK (CNNMoney) -- The Dow closed at a fresh two-year high Monday, getting the new year off to a strong start, after manufacturing and construction data stoked optimism about the economy.

The Dow Jones industrial average (INDU) rose 93 points, or 0.8%, closing at 11,670.8 -- its highest level since August 2008.

Bank of America (BAC, Fortune 500) was the biggest gainer on the blue-chip index, leading financial shares higher. Its shares surged more than 6% after the bank announced a $3 billion mortgage settlement with Fannie Mae and Freddie Mac earlier in the day.

Meanwhile, the S&P 500 (SPX) rose 14 points, or 1.1%; and the Nasdaq (COMP) added 39 points, or 1.5%.

While the economy has a long road to recovery, investors are bullish about the month ahead.

"Over the long term, January has usually been a strong month for stock performance, although the last two Januarys have been terrible," said Jack Ablin, chief investment officer with Harris Private Bank in Chicago. "This is one January where I'm hopeful we're back to our historical pattern again."

* Stocks: New year, same old risks

Stocks ended a roller coaster year with a lackluster showing Friday, but all three major indexes logged double-digit percentage gains for the year. The Dow Jones industrial average finished 2010 up 11%, the S&P 500 climbed 13% and the Nasdaq rose 17%.

Economy: Traders mulled over an economic report showing the manufacturing industry expanded for the 17th straight month in December.

The Institute for Supply Management's manufacturing index for December edged up to 57 in December, up from 56.6 in November. The index was roughly in line with economists' expectations for 57.3, with any number above 50 indicating growth in the sector.

Construction spending data also came in after the opening bell -- showing a 0.4% rise in November, following a 0.7% rise in October. Economists were looking for an increase of 0.2%.

* A hiring boom in 2011. Really.

Meanwhile, the most closely watched report of the week is the government's reading on the labor market, due Friday. Economists expect employers boosted payrolls by 132,000 last month, following a 39,000 gain in November.

Companies: Bank of America announced Monday that it is taking a charge for faulty mortgages sold to Freddie Mac and Fannie Mae. Bank of America expects to take a provision of about $3 billion related to the loans and an impairment charge of $2 billion to fourth-quarter results. The bank has made cash payments of about $1.3 billion to both Freddie Mac and Fannie Mae.

Shares of Barnes & Noble (BKS, Fortune 500) jumped 9%, after the bookseller said its same-store holiday sales rose 9.7% -- helped by demand for its Nook e-reader.

* Video - BofA sparks rally

Late Sunday, the New York Times reported Goldman Sachs (GS, Fortune 500) and an anonymous Russian investor have invested $500 million in Facebook. The deal values the social networking giant at $50 billion -- a valuation higher than CNNMoney parent Time Warner (TWX, Fortune 500), as well as other major media companies. Shares of Goldman Sachs jumped 2.9%.

Dollar General Corp. (DG, Fortune 500) shares fell 0.1%, after the retailer announced plans to create 6,000 new jobs in fiscal 2011, as the company opens 625 new stores throughout the country.

Apple Inc (AAPL, Fortune 500) also started the year off on the right foot, with its market value surpassing $300 billion for the first time ever. Shares of Apple rose 2.2%.

World markets: European stocks closed their trading sessions higher. France's CAC 40 rose 2.3% and Germany's DAX gained 1.1%. Britain's market was closed.

Most Asian markets were closed Monday. Tokyo and Shanghai were dark, while the Hang Seng in Hong Kong finished 1.7% higher.

Currencies and commodities: The dollar gained against the euro, the Japanese yen and the British pound.

Oil for February delivery rose 17 cents to settle at $91.55 a barrel.

Gold futures for February delivery gained $1.50 to settle at a record-high close of $1,422.90 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell Monday, pushing the yield up to 3.34% from 3.3% Friday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : In the process of setting a fresh multiyear high the stock market scored its strongest percentage gain in a month as broad-based buying welcomed stocks to a new year.

The tone of today's trade was positive from start to finish. A robust gap up was extended through the first leg of trade so that the Nasdaq hit its highest level since December 2007 and the S&P 500 cleared 1275 for the first time since September 2008. The S&P 500 spent the next few hours hugging that line before it gradually drifted off of that mark in afternoon action.

Bank of America (BAC 14.19, +0.85) scored the biggest gains of any stock in the S&P 500. The company removed an element of uncertainty surrounding repurchase obligations of residential mortgage loans sold to GSEs after it announced plans to take a fourth quarter provision of approximately $3 billion related to the matter. The firm also noted that cost estimates related to additional claims, representations, and warranties have been included in the provision.

Strength in shares of BAC inspired buying among other diversified financial services plays, which helped drive the financial sector to a 2.3% gain. No other sector came close to matching its performance.

Alcoa (AA 15.80, +0.41) was the third best performing blue chip behind shares of Bank of America and JPMorgan Chase (JPM 43.58, +1.16). The stock was partly helped by a positive rating from analysts at Deutsche Bank ahead of Alcoa's earnings report next week. Other materials stocks saw their gains clipped as natural resource plays were pressured in late afternoon trade.

Consumer staples stocks lagged all session. They settled with a gain of just 0.2%, imbued by weakness in Clorox (CLX 61.57, -1.71), which dove after the firm issued downside guidance.

Solid data seemed to uphold this session's buying effort. Construction spending for November increased by 0.4%, which exceeded the Briefing.com consensus call for a 0.2% increase after spending had increased 0.7% the month before.

The ISM Manufacturing Index for December improved to 57.0 from 56.6, but the latest reading was still slightly below the 57.3 that had been expected, on average, among economists surveyed by Briefing.com.

Prior to the open participants were able to take the pulse of some overseas manufacturing activity. Germany's final Manufacturing PMI for December came in at 60.7, down from 60.9, but the broader eurozone's December reading improved to an eight-month high of 57.1. China's Manufacturing PMI for December eased back to 53.9 from 55.2 in the prior month, but its non-Manufacturing reading improved to 56.5 from 53.2 month over month.

Overseas markets staged strong gains amid the data. Germany's DAX advanced 1.1% while France's CAC climbed 2.5%. Britain's FTSE was closed. Hong Kong's Hang Seng ascended 1.7% and South Korea's Kospi tacked on 0.9%. Both Japan's Nikkei and China's Shanghai Composite remained closed.

The dollar advanced against several key currencies, namely the yen, euro, and pound. Strength in the greenback helped the Dollar Index climb as much as 0.7% before that gain was dashed. Still, the dollar managed to fend off efforts to take it into the red; it was up about 0.3% as of the close of trade.

Advancing Sectors: Financials (+2.3%), Telecom (+1.4%), Consumer Discretionary (+1.2%), Tech (+1.2%), Health Care (+1.0%), Energy (+1.0%), Materials (+0.7%), Industrials (+0.7%), Utilities (+0.5%), Consumer Staples (+0.2%)
Declining Sectors: (None)DJ30 +93.24 NASDAQ +38.65 NQ100 +1.6% R2K +1.9% SP400 +1.4% SP500 +14.23 NASDAQ Adv/Vol/Dec 2053/1.93 bln/636 NYSE Adv/Vol/Dec 2236/1.06 bln/791

3:30 pm : A mixed finish among commodities saw the CRB Commodity Index settle with a gain of just 0.1% after it had been up almost 0.8% at its session high. Soft commodities still scored a 3.4% gain while livestock shed 1.7% and lean hogs fell 2.2%. Sugar surged 5.7% while orange juice tacked on 5.0%.

Energy, which collectively gained 1.7%, was largely led by a 5.5% surge in natural gas prices to $4.65 per MMBtu in the February contract. Many reports pointed to colder-than-average temperatures as cause for the climb to a four-month high. Crude oil prices settled just 0.2% higher at $91.55 per barrel after sharp selling undercut the commodity into the close of pit trade.

Precious metals traded quietly. Gold prices in the February contract settled just 0.1% higher at $1422.90 per ounce while silver settled with a 0.1% gain at $31.13 per ounce. After pit trade closed the metals were hit with selling pressure.DJ30 +95.21 NASDAQ +35.75 SP500 +13.40 NASDAQ Adv/Vol/Dec 2048/1.54 bln/625 NYSE Adv/Vol/Dec 2239/695 mln/769

3:00 pm : Small-cap stocks are having a heady session as the Russell 2000 sprints out to a 2.0% gain, which is its best single session move since a 2.2% spike on December 1, 2010. The Russell 2000 is at its highest level in more than three years.

As for individual names within the Russell 2000, Zogenix (ZGNX 6.61, +0.94) and Cheniere (LNG 6.37, +0.85) have surged while Inspire Pharmaceuticals (ISPH 3.50, -4.90) has had its market cap more than halved after the company announced disappointing drug trial results.DJ30 +113.45 NASDAQ +39.16 SP500 +15.43 NASDAQ Adv/Vol/Dec 2060/1.42 bln/610 NYSE Adv/Vol/Dec 2277/626 mln/741

2:30 pm : Stocks continue to move sideways along session highs. The broad-based advance has the major equity averages on pace for their strongest performance of the past month.

However, not every stock has benefited from today's bid. In fact, Clorox (CLX 61.20, -2.08) has been a notable laggard. Consumer staples stocks, up just 0.2%, have struggled to attract much support this session, but shares of CLX have actually fallen under an outright stiff selling effort. Its slide stems from downside guidance. DJ30 +118.66 NASDAQ +38.94 SP500 +15.63 NASDAQ Adv/Vol/Dec 2016/1.33 bln/642 NYSE Adv/Vol/Dec 2265/578 mln/734

2:00 pm : The S&P 500 has spent the past three hours hugging the 1275 line. Its move to that point came quick and early as stocks staged a strong gap up at the start of trade and then pushed toward the 1275 line in the following 90 minutes.

Commodities also remain in solid shape, such that the CRB Commodity Index continues to sport a 0.5% gain. Natural gas has become a standout in that space as it stretches to $4.68 per MMBtu, which makes for a 6.3% gain. DJ30 +128.17 NASDAQ +42.61 SP500 +17.31 NASDAQ Adv/Vol/Dec 2048/1.22 bln/619 NYSE Adv/Vol/Dec 2289/529 mln/688

1:30 pm : Though it is up with a strong gain, the Dow is trailing its counterparts. Blue chips are not necessarily seeing much selling since Coca-Cola (KO 65.19, -0.58) and Intel (INTC 20.88, -0.15) are the only two names in the Dow that are currently in the red, but bids in that space just haven't been as strong as they have in other corners of the market.

Despite that, Alcoa (AA 15.98, +0.59) is having a stong session. In terms of the best Dow performers, it is only behind Bank of America (BAC 14.09, +0.75), which remains up a robust 5%. Strength in AA stems from a combination of broader market support and positive reviews from analysts at Deutsche Bank ahead of the company's earnings report next week. DJ30 +120.94 NASDAQ +42.18 SP500 +1675 NASDAQ Adv/Vol/Dec 2039/1.15 bln/604 NYSE Adv/Vol/Dec 2300/487 mln/671

1:00 pm : Stocks are on pace for their best performance in a month as participants provide a broad-based bid to start 2011.

Coming off of its best December since 1991, the stock market has extended its climb by pushing to its highest level in more than two years. Support has been widespread as 90% of the issues in the S&P 500 sport gains.

Financials have been the biggest beneficiaries of today's bounce -- the sector is up 2.3%. Bank of America (BAC 14.04, +0.70) has been leading the sector all session. Its strength follows news that it expects to take a fourth quarter provision of approximately $3 billion related to repurchase obligations of residential mortgage loans sold to GSEs and that future costs related to representations and warranties related to additional claims have been included in their estimate. The announcement removes an element of uncertainty that had hampered investor interest in the stock.

Though buying remains strong, market participants have shown less interest in defensive-oriented issues. For instance, consumer staples stocks are collectively up just 0.3% while utilities stocks are up 0.6%, which is less than half of what the broader market has achieved.

The dollar has also lost support since overnight trade, when it had been up as much as 0.7% against a collection of competing currencies. The greenback is now up just 0.1% against that basket.

A small dose of data was posted this morning. It was generally solid and left the stock market's ascent undeterred.

Construction spending for November increased by 0.4%. That bested the Briefing.com consensus call for a 0.2% increase.

The ISM Manufacturing Index for December came improved to 57.0, but that was still only slightly below the reading of 57.3 that had been expected among economists surveyed by Briefing.com.

A few manufacturing reports were released overseas, too. Germany's final Manufacturing PMI reading for December slipped a bit from the prior month, but the broader eurozone's December reading improved to an eight-month high. China's Manufacturing PMI for December eased back from the prior month, but its non-Manufacturing reading improved nicely month over month. DJ30 +119.73 NASDAQ +42.44 SP500 +16.62 NASDAQ Adv/Vol/Dec 2037/1.07 bln/609 NYSE Adv/Vol/Dec 2306/450 mln/652

12:30 pm : The stock market continues to move sideways, such that the S&P 500 has been confined to a range of less than two points for the past hour.

Amid this session's steady, strong gains volatility has moved lower. Specifically, the Volatility Index is down 2.5% today. The VIX is still up about 12% from its eight-month low set little more than a week ago. DJ30 +126.31 NASDAQ +46.77 SP500 +17.81 NASDAQ Adv/Vol/Dec 2062/976 mln/578 NYSE Adv/Vol/Dec 2323/405 mln/629

12:00 pm : The S&P 500 recently poked above the 1275 line, but it has since eased back by about a point to trade in line with where it was about an hour ago. The sideways drift makes for a consolidation of today's gains, which are shaping up to be the richest in one month.

Financials remain a primary source of support for the broader market's gain. Now collectively up 2.2%, financials almost entirely across the board are being bid higher. Of the 81 issues that make up the financial sector, only CME Group (CME 319.00, -2.75) has failed to stage a gain. Meanwhile, Bank of America (BAC 14.02, +0.68) remains a leader in the sector following an announcement that the company plans to make a $3 billion provision for resolving repurchase agreements with GSEs. Bank of America representatives stated that they anticipate receiving additional claims from Fannie Mae in the future and that they have considered this in their estimate of future costs related to representations and warranties. DJ30 +122.91 NASDAQ +48.03 SP500 +17.53 NASDAQ Adv/Vol/Dec 2062/875 mln/541 NYSE Adv/Vol/Dec 2297/370 mln/635

11:30 am : Stocks remain near their session highs as the S&P 500 takes a breather just below the 1275 line, which was last touched in September 2008, prior to the collapse of Lehman Brothers.

Defensive-oriented issues in the S&P 500 are up, but they have been laggards since the open. More specifically, the consumer staples sector is up just 0.1% while the utilities sector is up 0.4%. That's paltry when compared to the broader market's gain of more than 1%.

Outside of stocks, the dollar has been dragged down further since overnight trade -- the greenback had been up as much as 0.7% against competing currencies, but it is now up less than 0.1%.DJ30 +120.41 NASDAQ +48.09 SP500 +16.79 NASDAQ Adv/Vol/Dec 2062/775 mln/520 NYSE Adv/Vol/Dec 2297/328 mln/633

11:00 am : Buying continues to drive stocks to fresh session highs, such that each of the three major averages are on pace for their best single-session percentage gain in a month. More impressive is that the S&P 500 and the Dow are at their best levels since September 2008 while the Nasdaq Composite is at its highest level since December 2007.

While stocks hold on to rich gains, Treasuries are under stiff pressure. Specifically, the benchmark 10-year Note is now down 21 ticks so that its yield is at 3.38%, up almost 10 basis points from where it closed last week. As for the 30-year Bond, it is down mor than a point so that its yield is at 4.42%. DJ30 +124.42 NASDAQ +48.99 SP500 +16.84 NASDAQ Adv/Vol/Dec 2055/645 mln/509 NYSE Adv/Vol/Dec 2241/275 mln/640

10:35 am : Despite strength in the dollar index this morning, most commodities are trading higher today. Gold is one of them.

Over half of the CRB Index is showing gains of 1% or more. Soft commodities sugar and orange juice are leading the index with 5.7% and 5.0% in gains, respectively. Orange juice futures (related ETF is JO) hit a three year high today primarily on news that unfavorable weather in Florida, the world's second largest producer, will create further damage to the crop.

Sugar (related ETF is SGG) is trading 5.7% higher at 32.12 cents/lb, extending gains from Friday. This comes after the commodity shed over 10% on Thursday. In sum, sugar has fundamental support largely due to supply concerns. In fact, it was so bad in Portugal around mid-December, the country actually ran out of sugar temporarily.

Energy markets are trading higher with natural gas showing the most gains. The energy component pushed to session highs of $4.60 per MMBtu just over an hour ago and is currently 3.6% higher at $4.56 per MMBtu.

Feb crude has been in positive territory all morning and just hit new session highs of $92.58 per barrel a short while ago. It's now just under that high, currently at $92.26 per barrel, up 1%.

Precious metals are mixed as gold is one of the few commodities trading lower this morning. Feb gold has chopped around the flat line this morning and is currently slightly in the red at $1419.00 per ounce. March silver is 0.2% higher at $30.99 per ounce.DJ30 +106.94 NASDAQ +44.77 SP500 +14.63 NASDAQ Adv/Vol/Dec 2021/512.6 mln/493 NYSE Adv/Vol/Dec 2195/225.6 mln/643

10:00 am : Stocks continue to climb. Their ascent has gone uninterrupted.

The latest dose of data generally proved solid. The ISM Manufacturing Index for December came in at 57.0, which is slightly below the reading of 57.3 that had been expected, on average, among economists surveyed by Briefing.com, but the December reading is up from the 56.6 that had been posted for the prior month.

Construction spending for November increased 0.4%, but that is actually stronger than the Briefing.com consensus call for a 0.2% increase. Spending for the prior month had increased 0.7%.

Advancing Sectors: Financials (+1.8%), Health Care (+1.3%), Tech (+1.3%), Materials (+1.2%), Consumer Discretionary (+1.1%), Energy (+1.0%), Industrials (+0.9%), Telecom (+0.7%), Consumer Staples (+0.3%), Utilities (+0.2%)
Declining Sectors: (None)DJ30 +115.94 NASDAQ +36.42 SP500 +14.36 NASDAQ Adv/Vol/Dec 1907/295 mln/504 NYSE Adv/Vol/Dec 2184/150 mln/575

09:45 am : Strong buying in the early going has boosted the stock market to a fresh two-year high. Though buying has been broad based, financials are out in front with a 1.5% gain.

The financial sector's surge comes amid leadership from diversified financial service plays like Bank of America (BAC 14.04, +0.70), which has spiked to a gain of more than 5% with the removal of uncertainty regarding repurchase claims with GSEs Fannie Mae and Freddie Mac. Bank of America announced that it expects to take a fourth quarter provision of approximately $3 billion related to repurchase obligations of residential mortgage loans sold to the GSEs. DJ30 +107.77 NASDAQ +33.95 SP500 +12.95 NASDAQ Adv/Vol/Dec 1849/180 mln/480 NYSE Adv/Vol/Dec 2204/109 mln/486

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +21.80. Stock futures continue to suggest that a strong start is in order for the first trading day of 2011. The bid comes in a continuation of the strength that was exhibited during December, when the S&P 500 booked a 6.5% monthly gain after settling lower in only five sessions of the entire month. Overseas strength has helped perpetuate a positive tone to premarket trade; of the major averages that were open, heady gains were had. The dollar has had its overnight gain more than halved so that it is now up 0.3% against a basket of competing currencies. Notably, the stock versus dollar dynamic has diminished during the past couple of weeks. News flow remains light and the only domestic data scheduled for today includes the latest construction spending figures and ISM Manufacturing data, which will be released at 10:00 AM ET.

09:05 am : [BRIEFING.COM] S&P futures vs fair value: +9.90. Nasdaq futures vs fair value: +21.80. The Dollar Index was up as much as 0.7% overnight, but it has since pulled back to trade with a gain of only about 0.2%. As for action among commodities, the CRB Commodity Index is up 0.5% in early trade. It is led by oil, which is up 0.9% to $92.15 per barrel in early pit trade. Natural gas is up with an even sharper gain of 3.8% to trade at $4.57 per MMBtu. Precious metals have had a mixed morning that has gold prices down 0.2% at $1419 per ounce while silver is up 0.2% to $30.99 per ounce.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +23.30. Though Britain's FTSE remains closed, Europe's other major bourses have caught a strong, broad-based bid. Germany's DAX is up 1.3% as 27 of its 30 members sport gains. Automakers Volkswagen and BMW are out in front while Fresenius SE, Fresenius Medical Care, and Beiersdorf make up the three laggards that have failed to push into positive territory. Germany's final PMI reading for December came in at 60.7, which is down slightly from the initial reading of 60.9. In France, the CAC has climbed to a 2.0% gain. All 40 of its components currently sport gains, but Sanofi-Aventis (SNY) and Total (TOT) are primary leaders. The eurozone's final PMI reading for December was posted earlier this morning. It came in at 57.1, up from 55.3 in the initial reading.

In Asia, both Japan's Nikkei and China's Shanghai Composite were closed, but Hong Kong's Hang Seng staged a 1.7% gain. All 45 of the Hang Seng's members swung to a gain. They were led by CNOOC (CEO), Hutchison Whampoa, and Cheung Kong. South Korea's Kospi climbed 0.9% to a new all-time high. Samsung Electronics and Hyundai Motor were leaders. Though China was closed for trade, it released its December Manufacturing PMI over the weekend; it came in at 53.9, which is down from 55.2 in the prior month. China's non-Manufacturing PMI for December improved to 56.5 from 53.2 in November, though. Singapore posted its latest GDP data, which indicated that its economy expanded at a 6.9% rate in the fourth quarter.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +10.40. Nasdaq futures vs fair value: +23.30. Stock futures for the S&P 500 currently sport a solid lead over fair value, but Nasdaq 100 futures are in even better shape. Strength this morning comes after stocks closed out 2010 on a mixed note, but still booked their best December performance since 1991. Several overseas markets remained closed, including Britain's FTSE, China's Shanghai Composite, and Japan's Nikkei, but impressive gains have been made by Hong Kong's Hang Seng (+1.7%), South Korea's Kospi (+0.9%), France's CAC (+1.9%), and Germany's DAX (+1.3%). Germany's final PMI reading for December, 60.7, was a bit lighter than previously reported, but the broader eurozone's December PMI improved to 57.1 in its final reading. China's Manufacturing PMI for December eased lower to 53.9 from the prior month, but its non-Manufacturing PMI for December improved to 56.5. Domestic data includes the December ISM Manufacturing Index and construction spending data at 10:00 AM ET.

07:10 am : S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +18.00.

07:10 am : Nikkei...Holiday......... Hang Seng...23436.05...+400.60...+1.70%.

07:10 am : FTSE...Holiday......... DAX...7018.29...+104.20...+1.50%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

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